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HiTek Global (HKIT) launches $4.0M at-the-market offering program

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(Neutral)
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(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

HiTek Global Inc. establishes an at-the-market offering program for up to $4,003,458 of Class A ordinary shares, to be sold through AC Sunshine Securities LLC as sales agent. This amount, defined as the Offered Securities, corresponds to up to 2,011,787 Class A ordinary shares based on a closing price of $1.99 per share on the Nasdaq Capital Market on September 11, 2025 and is limited by Form F-3 General Instruction I.B.5. The sales occur under an effective Form F-3 shelf registration, using a base prospectus dated May 16, 2024 and a prospectus supplement dated October 8, 2025.

The company is not required to sell any shares, and the sales agent is not obligated to buy shares on a principal basis. AC Sunshine Securities LLC will use commercially reasonable efforts to place shares in at-the-market transactions under Rule 415, earning a 3.5% commission on gross proceeds, and the company will reimburse up to $70,000 of specified expenses.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of October 2025

 

Commission File Number 001-39339

 

HiTek Global Inc.

(Translation of registrant’s name into English)

 

Unit 304, No. 30 Guanri Road, Siming District

Xiamen City, Fujian Province, People’s Republic of China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F              Form 40-F

 

 

 

 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

Sales Agreement for At The Market Offering Program

 

On October 8, 2025, Hitek Global Inc., an exempted company incorporated under the laws of the Cayman Islands (the “Company”) entered into a sales agreement (the “Sales Agreement”) with AC Sunshine Securities LLC (the “Sales Agent”), acting as the Company’s sales agent, pursuant to which the Company may offer and sell, from time to time, to or through the Sales Agent, up to 15,075,376 Class A ordinary shares of the Company, par value $0.0001 per share (the “Class A Ordinary Shares”) having an aggregate offering price of up to Thirty Million Dollars ($30,000,000), which, as of the date of this report, is subject to the limitations set forth in General Instruction I.B.5. of Form F-3, or an aggregate offering price of up Four Million Three Thousand Four Hundred Fifty-Eight Dollars ($4,003,458) or 2,011,787 Class A Ordinary Shares (the “Offered Securities”), calculated based on the closing price of Class A Ordinary Shares of $1.99 per Class A Ordinary Share as reported on the Nasdaq Capital Market on September 11, 2025.

 

Under the Sales Agreement, the Offered Securities will be offered and sold pursuant to a base prospectus, dated May 16, 2024 and a prospectus supplement, dated October 8, 2025, that forms a part of the Company’s shelf registration statement on Form F-3, as amended (File No. 333-279459) (the “Registration Statement”), which Registration Statement was declared effective by the Securities and Exchange Commission on May 29, 2024.

 

The Company is not obliged to sell any Offered Securities under the Sales Agreement, and the Sales Agent is not under any obligation to purchase any Offered Securities on a principal basis pursuant to the Agreement, except as otherwise agreed by the Sales Agent and the Company in writing pursuant to a separate agreement setting forth the terms of such sale. Subject to the terms and conditions of the Sales Agreement, the Sales Agent will use commercially reasonable efforts consistent with its normal trading and sales practices, applicable state and federal laws, rules and regulations and the rules of The Nasdaq Stock Market LLC to sell Offered Securities from time to time based upon the Company’s instructions, including any price, time or size limits specified by the Company. Upon delivery of a sales notice, and subject to the Company’s instructions in that notice, and the terms and conditions of the Sales Agreement generally, the Sales Agent may sell Offered Securities by any method permitted by law that is deemed to be an “at the market offering” as defined by Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Company will pay the Sales Agent a commission of three- and one-half percent (3.5%) of the aggregate gross proceeds from each sale of the Offered Securities and has agreed to provide the Sales Agent with customary indemnification and contribution rights. The Company has also agreed to reimburse the Sales Agent for certain specified expenses of up to $70,000 in the aggregate.

 

The foregoing summary of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Sales Agreement, a copy of which is attached as an exhibit to this Form 6-K and incorporated by reference herein. A copy of the opinion of Maples and Calder (Cayman) LLP, as Cayman Islands counsel to the Company, regarding the legality of the issuance and allotment of the Class A Ordinary Shares underlying the Offered Securities under the Sales Agreement is attached hereto as Exhibit 5.1 and is incorporated by reference herein.

 

This Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of Offered Securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

Incorporation By Reference

 

This report on Form 6-K (“Report”) shall be deemed to be incorporated by reference into: (i) the Registration Statement; (ii) the registration statement on Form F-3 (File No. 333-281723) of the Company; (iii) the registration statement on Form S-8 (File No. 333-289245) of the Company, each filed with the U.S. Securities and Exchange Commission on, respectively, May 16, 2024, August 22, 2024, and August 5, 2025 (collectively, and as amended from time to time, the “Registration Statements”), and into each prospectus or prospectus supplement outstanding under the Registration Statements, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

 

1

 

 

EXHIBIT INDEX

 

Exhibit No.   Description of Exhibit
5.1   Opinion of Maples and Calder (Cayman) LLP, Cayman Islands counsel to the Company
10.1   Sales Agreement, dated October 8, 2025, by and between the Company and the Sales Agent
23.1   Consent of Maples and Calder (Cayman) LLP, Cayman Islands counsel to the Company (included in Exhibit 5.1)

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: October 9, 2025

 

HiTek Global Inc.  
     
By: /s/ Xiaoyang Huang  
  Xiaoyang Huang  
  Chief Executive Officer  
  (Principal Executive Officer)  

 

3

 

FAQ

What did HiTek Global (HKIT) disclose in this Form 6-K?

HiTek Global Inc. disclosed that it entered into a Sales Agreement with AC Sunshine Securities LLC to establish an at-the-market offering program for up to $4,003,458 of Class A ordinary shares, corresponding to up to 2,011,787 shares based on a $1.99 per share reference price.

How large is HiTek Global's new at-the-market offering program?

The Offered Securities under the at-the-market program have an aggregate offering price of up to $4,003,458, or up to 2,011,787 Class A ordinary shares, calculated using a closing price of $1.99 per share on September 11, 2025 and subject to Form F-3 General Instruction I.B.5 limitations.

Who is the sales agent for HiTek Global's at-the-market offering?

AC Sunshine Securities LLC acts as the sales agent for HiTek Global Inc. under the Sales Agreement, using commercially reasonable efforts to sell the Offered Securities in at-the-market transactions pursuant to Rule 415(a)(4).

What fees will HiTek Global pay under the Sales Agreement?

HiTek Global will pay the sales agent a 3.5% commission on the aggregate gross proceeds from each sale of the Offered Securities and will reimburse specified expenses of the sales agent in an aggregate amount of up to $70,000.

Is HiTek Global obligated to sell shares under this at-the-market program?

HiTek Global is not obliged to sell any Offered Securities under the Sales Agreement, and AC Sunshine Securities LLC is not obligated to purchase shares on a principal basis unless otherwise agreed in a separate written agreement.

Which registration statements does this HiTek Global Form 6-K incorporate by reference?

This report is incorporated by reference into HiTek Global’s shelf registration statement on Form F-3 (File No. 333-279459), its additional Form F-3 (File No. 333-281723), and its Form S-8 (File No. 333-289245), together with the related base prospectuses and prospectus supplements.

Under what offering documents will HiTek Global sell the Offered Securities?

Sales of the Offered Securities will be made under a base prospectus dated May 16, 2024 and a prospectus supplement dated October 8, 2025, which form part of HiTek Global’s effective shelf registration statement on Form F-3.
HiTek Global Inc.

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